The Julia La Roche Show #300 Danielle DiMartino Booth: "Something Else Is Going On" at the Fed - December Rate Cut in Doubt Despite Weakening Labor Data and Worker Struggles
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Oct 30, 2025 
Danielle DiMartino Booth, CEO and Chief Strategist at QI Research and former Federal Reserve insider, shares her insights on the recent FOMC meeting. She critiques Fed Chair Powell's hawkish stance amid rising layoffs from major companies. Danielle discusses internal Fed politics, unexpected dissenting voices, and the alarming trend of job destruction signaling recession. She emphasizes the need for compassionate awareness regarding struggling families as the holiday season approaches and highlights the increasing stress in private credit markets and corporate bankruptcies.
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Labor Mandate Seems Ignored
- Danielle says the Fed must still honor its labor mandate and questions why officials appear to ignore mass layoffs.
- She lists major corporate cuts like UPS, GM, Meta, and Amazon as evidence of weakening labor conditions.
Fed Staff Track Layoff Data
- Danielle recounts working inside the Fed and says officials follow layoff data and ADP closely.
- She notes ADP will now publish weekly rolling four-week layoff counts, improving real-time visibility.
Net Job Destruction Points To Recession
- Danielle highlights that net job destruction occurred in six of the last 12 months, which historically aligns with recessions.
- She argues that this pattern already indicates the economy may be in recession.
